Performance

Apart from compliance with internal policies and procedures, the Board of Directors performs an annual self-assessment exercise to assess their individual and collective performance as well as their co-directors’ and management’s. The self-assessment exercise, through a self-assessment questionnaire, is given to each director to ensure the effectiveness of their governance, to reflect on the performance of top management including the President and Chief Executive Officer (CEO), to highlight specific strengths, and to identify areas of improvement. It also provides a venue for the Board members to identify priorities for the Board and the company for the succeeding year. The assessment is comprised of the appraisal of the Board, individual directors, different Board Committees, Management, and Chairman of the Board.

Our Board of Directors, together with the management, fully understand that the corporate governance proactive culture begins with leaders of the company.

The questionnaire covers a thorough evaluation criteria focused on the structure, efficiency, and effectiveness of the Board; the participation and engagement of each member; the contribution of each member to their respective Committees; and as well as the performance of Management and the Chairman of the Board. The criteria also reflect the specific duties, responsibilities, and accountabilities of each Board member assessed in line with Globe’s By-Laws, Manual of Corporate Governance, Charters, and governing policies.

The self-assessment exercise is facilitated by our Chief Compliance Officer. Every three years, the assessment shall also be supported by an external facilitator selected for this purpose. An annual executive session also takes place dedicated to evaluating and discussing matters concerning the Board, including evaluating the company’s performance and an independent review of its management team.


There is likewise an annual strategy workshop held at the beginning of the year to discuss the strategic direction of the Company for the entire year. Meanwhile, our non-executive director (NEDs) met separately in November 2017, without our executive director and anyone from Management. Among topics discussed were the role of NEDs in the Company, Management performance on Globe objectives and strategies and goals, effectiveness of risk management, integrity of governance policies and procedures, and adequacy of internal controls.

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Director Training and Continuing Education Program

To execute their roles well, training on Corporate Governance (CG) is given to directors prior to assuming office. This is also institutionalized in our Manual of Corporate Governance (MCG). The Board, together with the key officers, also actively attend training programs annually to keep abreast of updates in CG standards and relevant discussions to support their leadership roles in Globe Telecom that cover issues and relevant market trends, new laws, and regulations that can affect the business, sustainability, and CG, among others.


Our directors and key officers attended various CG seminars conducted by Securities and Exchange Commission (SEC)-accredited CG training providers during the year. On August 11, 2017, members of the Board and key officers participated in the CG and Risk Management Summit conducted by the Ayala Group in collaboration with the Institute of Corporate Directors (ICD), which is in compliance with the SEC directive for all key officers and members of the Board of publicly-listed companies to attend a program on CG. An in-house CG seminar was also conducted by Risks, Opportunities, Assessment, and Management (ROAM) on October 10, 2017 that was attended by a couple of our directors. Discussions on topics during these seminars included the SEC’s integrated Annual Corporate Governance Report (i-ACGR), the SEC’s Code of CG, global and regional CG trends for the year, cybercrime, cyber rights, and data privacy, among others. These seminars also provide a venue for directors and key officers to learn about other CG cases relevant to Globe Telecom's business.


The attendance of our Board and key officers to the CG training programs and seminars are properly disclosed to the SEC, Philippine Stock Exchange, and Philippine Dealing & Exchange Corporation. The disclosures can be found in the 2017 tab of our Annual Corporate Governance Report page, submitted to pertinent regulators and posted on our website.


On September 10, 2018, our Board and Key Officers attended an Advanced Corporate Governance Training Programs and were given the following certificates:


The Training Program covered several topics including the role of CG policies and practices in accelerating business growth, adapting to the digitally-transformed world in doing business, and the role of the board in ensuring good CG.


On October 22, 2018, the Office of the Chief Compliance Officer organized an in-house Corporate Governance Training Seminar for our Key Officers who were unable to attend the program in September. The Seminar was conducted by an SEC-accredited CG training provider covering various topics including a review of the SEC Code of CG and the i-ACGR, highlights of the tax reform program proposed package 2, CG trends for 2018, and CG cases. Certificates of completion as follows:

Manual of Corporate Governance

Board of Directors' Charter

Certifications of Independent Directors

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